Judgement

The ITAT upheld that filing Form 10B is just a procedural requirement, and even if it is filed beyond the specified due date, exemption under section 11 can still be claimed.

Section 11 Exemption Cannot Be Denied Solely for Late Filing of Form 10B: ITAT

ITAT condoned the assessee’s delay, remanded the case to AO, and directed a Rs. 5,000 payment to the PM Relief Fund.

Delay Condoned by ITAT; Case Remanded to AO, Rs. 5,000 Directed to PM Relief Fund

Issuing a second notice under Section 148 without fulfilling mandatory conditions of Section 148A is bad in law, rules ITAT

ITAT Quashes Reassessment Proceedings Due to Procedural Lapses and Absence of New Tangible Material

ITAT noted that the assessee company was assembling different components into a combined engine cooling system at its Uttarakhand Unit, and without this process, the final product could not exist.

Assembling Components to Form New Module Qualifies as Manufacturing Activity: ITAT

Assembling Components into a New Commercial Product Would Qualify as Manufacturing Activity: ITAT

Procedural delays in filing audit reports due to COVID-19 should not result in the denial of genuine charitable exemptions, rules ITAT.

ITAT Restores Charitable Exemption Claims and Deletes Section 271D Penalty for Educational Society

The Court noted that this amendment introduced by the Finance Act, 2022, was effective only from 01.04.2023 and could not be applied retrospectively to the 2018-19 assessment year.

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Section 11 Exemption Cannot Be Denied Solely for Late Filing of Form 10B: ITAT

Delay Condoned by ITAT; Case Remanded to AO, Rs. 5,000 Directed to PM Relief Fund

ITAT Quashes Reassessment Proceedings Due to Procedural Lapses and Absence of New Tangible Material

Assembling Components into a New Commercial Product Would Qualify as Manufacturing Activity: ITAT

ITAT Restores Charitable Exemption Claims and Deletes Section 271D Penalty for Educational Society

Income Tax Amendment to Section 68 Cannot Be Applied Retrospectively: Gujarat HC